/biz/ - Business & Finance

>>23015745
2: We are now looking at the weekly candles. We kept the same lines as before but added a flimsy yet notable support at 8.79. Also very hopeful, pullbacks below this line are harder to produce. The middle and bottom downtrend lines are visible here and we see the breakout better. The 11.49 line is well-respected on the pullback and the whisk on the latest candle is stopped above 8.79. There's still some clearly automated volume on the volume histograms leading up to the breakout. The red candle stopped below 8.79 could have been take-profits. Likewise with the latest candle. Different groups going off different levels, or more likely part of the entire position being cashed in at the first level, and more at the second level.
The amount of green volume is good news for the bullish thesis, although if it's just shorts covering it's a bit less interesting.
Another sour point is that the stock already did a 4x from the local lows.
There isn't much room to draw an uptrend yet and it's not clear from here how far down we could pullback. Our best indicator is the declining line, but we are looking for a bull case here, so we're going to zoom in and see what happens.

>>23015780
I'll get to that at the end. I'm drilling down first to establish the play, and then I'll give an idea of what levels to expect on the upside.

Doesn't help that captcha refuses to connect all the fucking time for me since weeks ago.